EVgo, Inc. (EVGO) stock rises in the aftermarket – What’s causing it to incline?

EVgo, Inc. (EVGO) experiences an incline of 3.98% in the aftermarket. However, the last trading session concluded at $8.29 with a decline of 3.6%.

Partnership to Expand EV Charging Accessibility for Fleets

On 21st October 2021, EVGO announced a strategic partnership with Merchants Fleets to expand EV Charging Accessibility for Fleets. To assist the electrification of fleets across the country, EVGO will offer a comprehensive spectrum of solutions to Merchants Fleet clients, including infrastructure planning, hardware, software, O&M, and infrastructure implementation.

Every EV transition strategy starts with charging and infrastructure. Also, it begins with integrating EVgo into the Merchants ecosystem that allows the clients to take meaningful, actionable steps toward making their EV dreams a reality. This collaboration provides Merchants Fleet clients access to a broader range of best-in-class charging options, allowing the company to help move the needle on sustainability by promoting fleet electrification.

Growing EV Fleet Market

On 23rd September 2021, the company reported that EVgo Fleet Charging Solutions has been expanded with a new package of services. This will assist fleets with their electrification efforts. EVgo created the EVgo OptimaTM software package and the EVgoldTM promising to make the transition to electric for fleets smooth.

Moreover, the company now services over 300,000 customer accounts, including ridesharing, autonomous, delivery, university, and other fleet clients. Electrification is healthier for both the earth and the pocketbook line, as EVgo’s fleet clients are discovering firsthand. This is one of the reasons why EV sales are exploding throughout the country. Lastly, with the expanded hardware, software, and service options through EVgo Optima and EVgold, the company will serve even more fleet operators.

Launch of EVgo Rewards Program Nationwide for EV Drivers

On 16th September 2021, EVGO launches a Reward Program. This customer loyalty program allows EV drivers to earn points toward free fast charging sessions at EVgo sites. After a successful trial program with over 4,000 consumers, EVGO is now the first countrywide public EV charging network to provide a rewards program to its growing client base.

Customers that use EVGO will be automatically registered in the Rewards program as it expands across the country. Members earn five points for every dollar they spend charging their car with EVgo, and they can earn bonus points by liking and sharing EVgo’s social media posts, planning to visit the EVgo Rewards website, being a member on their birthday, and participating in other programs conducted to surprise and delight EVgo drivers. Customers will receive a free fast-charging session with EVgo when they achieve 2,000 points with EVgo Rewards, which is equal to a $10 charging credit. Lastly, to view their balance and redeem their rewards, members can head to the EVgo Rewards page.